Zillow’s latest move around coming-soon listings — specifically, the rollout of its new Zillow Preview program and listing feature — could become another industry flashpoint as the residential real estate world continues to test the waters with pre-marketing and, ultimately, how listings should be presented and distributed to consumers.
Industry leaders and associations said the move reflects a market already experimenting with off-MLS marketing strategies, private listing networks and staged listing rollouts. But even among those welcoming the shift, questions remain about how Zillow’s approach interacts with MLS rules, broker-run listing platforms and the industry’s broader push for transparency in how homes are marketed to consumers.
National Association of Realtors
“NAR respects the rights of individual brokers to make their own business decisions and does not comment on specific brokerage practices or business models. NAR does not have a national policy regarding coming soon statuses. Listing statuses are matters of local discretion, with each MLS determining the appropriate statuses for its marketplace. Brokers and agents who choose to participate in an MLS agree to comply with that MLS’s policies and rules, which are designed to benefit consumers and their marketplace.
“NAR values the pro-competitive and pro-consumer benefits of MLS, including broad market exposure, access to available properties for sale in a marketplace, and equal access to the public. We will continue to protect and advance the rights of Americans to own real estate and to support consumers throughout the home buying and selling process.”
Hoby Hanna, CEO of Howard Hanna
Howard “Hoby” Hanna III
“We’re in a moment where how listings are introduced to the market matters more than ever. The first moments a home is presented can have a real impact on pricing, interest and overall momentum.
“From our perspective, it’s less about any one platform and more about giving sellers thoughtful, flexible options. That includes the ability to generate early interest, better understand buyer demand and position the home effectively before full market exposure.
“Any approach should remain aligned with MLS rules and support transparency across the market. We believe the opportunity is in how listings are introduced, building momentum first, then amplifying broadly.”
Stephen Brobeck, Senior Fellow with Consumer Policy Center
Steve Brobeck | Consumer Federation of America
“Hanna’s decision to join Compass in creating a private listing network, with the prospect of other major brokerages following suit, pressured Zillow into allowing pre-listings on their website.
“The willingness of many major brokerages to pre-list with Zillow will help check the erosion of publicly visible listings, thus benefitting consumers. However, the fact that some listing agents will receive a share of Zillow’s buyer agent referral fee will further strengthen an industry-wide referral fee system that discourages buyer negotiation of commissions.”
Chris Kelly, CEO of HomeServices of America
Chris Kelly | Credit: Ebby Halliday
“I hope what it serves as is a bit of a pulse check. I don’t think anyone could say this definitively ends that conversation, because it probably doesn’t. But I do hope it gives everyone a moment to pause and really assess the long-term implications versus what might feel like short-term gains.
“In the short term, you might think that if you do this with some percentage of your listings, you can drive eyeballs to one place instead of another and create an advantage for your agents or your brokerage. But that really only works while you’re the only one doing it. Eventually everyone else starts doing it back to one another.
“That’s when things really start to break down from a consumer’s perspective, because now they don’t know how many websites they need to go to in order to see everything that may or may not be for sale. My hope is that this serves as a pulse check where we all take a breath and think about the long-term implications for how we collaborate around listing content and what’s ultimately best for the consumer.”
Gary Keller, Executive Chairman and co-founder of Keller Williams
Gary Keller
“Sellers should have the opportunity to reach the broadest pool of potential buyers if they choose to do so, because broad exposure generally benefits the homeowner. Sellers should always retain the right to set the parameters around how their home is marketed. Information, marketing plan, timing, showing rules, and offer management — those decisions belong to the homeowner. Our job as professionals is to fully disclose and explain the options and let the seller decide.”
Anthony LaMacchia, broker-owner and CEO of Lamacchia Realty and Crush It in Real Estate
Anthony Lamacchia
“It’s clear to me that Robert won this battle, not only with Zillow but overall, because now he’s not the only one preaching about a way to sell homes without listing them on the MLS. I don’t blame Keller Williams, RE/MAX or HomeServices for making this deal, because they want to have something as an answer to what Compass has been preaching with off-market sales.
“We’ve had our own internal LINKS system since 2018, where we match buyers and sellers in our database to help buyers find homes before they’re listed and to help the small percentage of sellers who hope to sell off market — especially during 2020 when COVID hit. We’ll start promoting this system and method of selling if I see competitors start hoarding listings in any significant way.
“That said, I fundamentally believe — and know — that listing homes on the MLS and the open market for everyone to see is the best way to ensure sellers get top dollar and buyers have access to all homes. That’s best for consumers, and at Lamacchia they are our North Star.
“The fact is, none of these so-called pre-marketing systems will be very attractive to sellers or listing agents if inventory continues to rise. As that happens, there will be more pressure on agents and companies to give listings maximum exposure — which will always be on the open market through the MLS.”
